New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-10-05
TIE TELEGRAPH DEAL STILL DARK.
NO TRANSFER TO TIL . WESTERN UNION YET
RrMORs IN WALL STR sET-ROBERT CARPETS RE-
TrRN NAY BRING THINGS A HEAD

RCMORS IN WALL STR sET-ROBERT CARPETS RE-
TURN MAY BRING THINGS TO A HEAD.
Reports that the Baltimore and Ohio telegraph lines
were about to be absorbed by the Western Union
COMPANY have been revived In Wall Street recently.
and yesterday statement was published that the
terms had been agreed upon and that Jay Gould had
Instructed Dr. Norvn Green, president OF tho western
Union, to sign the contract with }. Perpont Morgan
tho representative Of tho syndicate which agreed to
loan tho Baltimore and Ohio Railroad $10,O0O,OOO to
relieve 1t from financial embarrassment Tho fact
that tho annual election Of tho NewYor corporation
OF the Baltimore and Ohio Telegraph occurred yesterday
was supposed to support tho runor and the return Of
President Robert Garrett, who sailed from Europe
Saturday, was accepted as further proof Of their
correctness. IL has been generally admitted, since
tho syndicate was formed month ago, that the
Baltporo and Ohio telegraph system would fall into
tho hands of tho Western Union Company, although
no positive agreement then mato and a practical
settlement of tho telegraph war considered close at
hand
There were several obstacles, however, I'm the way
Of an Immediate accomplishment Of this plan, even IL
an agreement about terms had been reached. The
last sterling mortgage made by the baltimore and Ohio
Railroad included the telegraph property and
rally It would take time arrange new security
for the loan that the telegraph might be separated
cleanly from the railroad ystem 1t is not yet known
that this difficulty has been overcome, but the
adj ance In Western Union stock has encouraged the
The question Of price 1. believed TO have been settled
some timo although exact information about the
terms has not yet leaked ont.
Tho persons who presumably know the present con
dtons Of The reported bargain were unwilling to dis
cuss II yesterday. Jay Could proessed Ignorance
and George J. Could aid that all he knew abont the
matter he had learned nom the rumors IN Wall street
DR.. Norvin Green too busily engaged 70 be as
turbed, and Russell sage said that 1t was still mat
ter for negotiation. At the Office OF Drexcl Morgan
& Co. was remarked that all Street sometimes
learned things before they happened fTesueht
d. II Bates. Of the Baltimore and Ohio Telegraph
Company secluded himself rom all inquireis
friend Of Robert CARROTS said that II was not at all
certain that the price even had boon agreed upon.
Mr. Garrett IL on his way tO this country, ne con-
timed and II must DO remembered that he Is sun
president Of the Baltimore and Ohio ran ana ,hd
he and Inf, friends it, lie probably consch'cd 10
the sale of the telegraph and other subsidiary proper
ties but, OF course not on any terms Una, "isnt "a
offered | doubt whether anything VIII oe uec'ucu
before his arrival" 49,,
Al the annual meeting Of the Now. York corporation
which was merely formal proceeding the iviiow'ms
drccto,s Of the baltimore and Ohio Telegraph Nom
many were re- elected d. H. Bates, Edward A Lcsne
Robert Garrett, Edward X Bacon ana hu"@'u - A.
nrucp